EL PASO, Texas (KTSM) — Renters across the country continue to struggle to keep up with the rapid acceleration of national rent growth, and El Paso renters are no exception.
El Paso rent is up 16.9 percent, according to the National Rent Report released by Zumper.
Zumper’s national rent index reports that average rent for one-bedrooms jumped by 9.2 percent since the second quarter of 2020, with the cost of two-bedroom rentals increasing by 11 percent.
The report examined 100 cities across the country and found that El Paso ranks 92nd for the most expensive rental market, with the cost of one- and two-bedroom rentals hovering around $770 (one-bedroom) and $970 (two-bedroom).
Despite the relatively low cost of rentals in the Borderland compared to national averages, the 16.9 percent increase is notable.
The report by Zumper said that 18 months of disruption pursuant to the pandemic caused rent growth across the nation to accelerate as the housing market shifted.
In March 2020, prospective homebuyers were eager to nest in order to acclimate to work-from-home and stay-at-home orders, which caused sales volumes and home valuations to soar.
To read the full report, visit zumper.com/blog/rental-price-data.